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S&P 500 Future Resilient Above 1981.5; Bias Up Through 1999.25 for 2007.75

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S&P 500 Future Resilient Above 1981.5; Bias Up Through 1999.25 for 2007.75

S&P 500 positive tone

·         Another bounce from minor 1985.5 support, ahead of better foundations 1981.5/80.75 that we have continued to flag to hold this week.

·         This maintains the resilient digestion theme into mid-month and also leaves upside pressures through mid-September.

·         We still see the threat as higher, maybe today to the topping line, now at 1999.25 and then 2003.0 and 2007.75 chart levels.

·         For mid-month the bias is back to challenge the recent peaks at 2010/11 and for an extension rally for 2020 and 2027.5 targets.


·         Below 1981.5/80.75 signals a neutral tone, only shifting negative below 1937.25.

See full report with levels & latest screencast here:  


4 Hour S&P 500 E-mini September Future Chart





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Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.

He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).

Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.

Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.



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